There is a real advantage to registering it as an homebuilt rather than special light sport. A S-LSA (special light sport aircraft) must be maintained, repaired and modified per the manufacturer's instructions.
A homebuilt does not require the manufacturer's blessing to maintain, repair, and modify. As the builder of a homebuilt that happens to meet the LSA requirements, you'll have the right to be its mechanic and do the annual condition inspection.
The 750 is an amazing machine.
True, but i believe the ELSA and SLSA both offer higher resale value. If a buyer buys a ELSA he/she can do their own annunal inspection on the aircraft as long as he/she has took the 16 hr inspection course. Amateur build only the builder or a A&P can do the annunal inspection. A couple friends of mine that are A&P seem a little hesitant to do condition inspections on homebuilt aircrafts. Im not sure if they think its a higher liability or what the deal is.
I think the STOL 750 looks like a fantastic performer! A guy I know is building one and putting a Honda Fit engine into it. I guess its called a Viking conversion. Cant wait to go for a ride when its done!